Petredis Investment Advisors LLC Has $2.78 Million Stock Holdings in McKesson Co. (NYSE:MCK)

Petredis Investment Advisors LLC decreased its holdings in McKesson Co. (NYSE:MCK) by 1.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,880 shares of the company’s stock after selling 78 shares during the quarter. Petredis Investment Advisors LLC’s holdings in McKesson were worth $2,781,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in MCK. Chase Investment Counsel Corp grew its holdings in shares of McKesson by 50.8% in the 2nd quarter. Chase Investment Counsel Corp now owns 8,985 shares of the company’s stock worth $5,247,000 after purchasing an additional 3,027 shares during the last quarter. Newbridge Financial Services Group Inc. grew its holdings in McKesson by 2,143.1% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 1,458 shares of the company’s stock worth $851,000 after acquiring an additional 1,393 shares during the last quarter. Commerce Bank grew its holdings in McKesson by 2.0% during the 3rd quarter. Commerce Bank now owns 156,781 shares of the company’s stock worth $77,516,000 after acquiring an additional 3,020 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in McKesson during the 2nd quarter worth about $12,331,000. Finally, West Oak Capital LLC grew its holdings in McKesson by 867.7% during the 4th quarter. West Oak Capital LLC now owns 3,000 shares of the company’s stock worth $1,710,000 after acquiring an additional 2,690 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Buying and Selling at McKesson

In related news, EVP Leann B. Smith sold 579 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total value of $331,645.41. Following the transaction, the executive vice president now directly owns 864 shares in the company, valued at approximately $494,890.56. This represents a 40.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.11% of the company’s stock.

McKesson Stock Performance

Shares of MCK opened at $591.47 on Friday. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $637.51. The firm’s 50 day moving average price is $592.95 and its two-hundred day moving average price is $561.48. The firm has a market cap of $75.08 billion, a P/E ratio of 30.63, a PEG ratio of 1.26 and a beta of 0.52.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, topping analysts’ consensus estimates of $6.88 by $0.19. The business had revenue of $93.65 billion for the quarter, compared to analyst estimates of $89.33 billion. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The firm’s revenue for the quarter was up 21.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $6.23 earnings per share. On average, sell-side analysts anticipate that McKesson Co. will post 32.73 earnings per share for the current fiscal year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were issued a $0.71 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $2.84 annualized dividend and a dividend yield of 0.48%. McKesson’s dividend payout ratio is currently 14.71%.

Analyst Ratings Changes

A number of equities research analysts have commented on MCK shares. Morgan Stanley increased their price objective on shares of McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Mizuho started coverage on shares of McKesson in a report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price objective on the stock. Robert W. Baird raised shares of McKesson from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $531.00 to $688.00 in a report on Thursday, November 7th. Leerink Partners reduced their target price on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a research note on Monday, October 7th. Finally, Citigroup reduced their target price on shares of McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $646.14.

McKesson Profile

McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, Prescription Technology Solutions (RxTS), Medical-Surgical Solutions, and International. The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar and over-the-counter pharmaceutical drugs, and other healthcare-related products.